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Churchill Backs Recap of Midwest Can by GenNx360 Capital Partners

August 02, 2018, 07:04 AM
Filed Under: Manufacturing

Churchill Asset Management (Churchill) announced that it served as Lead Arranger and Sole Bookrunner for a $67 million first lien credit facility to support the recapitalization of Midwest Can Company & Container Specialties Inc. (Midwest Can) by GenNx360 Capital Partners (GenNx360).

Based in Franklin Park, IL, Midwest Can is a leading manufacturer of high-density polyethylene (HDPE) portable fuel containers. Founded in 1951, the company designs and manufacturers fuel containers, water containers, funnels and drain pans for a diverse customer base consisting of automotive, hardware and home improvement retailers.

“MidWest Can’s management team has deep industry experience and a proven track record of growing organically through new product innovation,” said Randy Schwimmer, Senior Managing Director and Head of Origination & Capital Markets at Churchill. “We look forward to supporting GenNx360 and MidWest Can as together they continue to grow and expand the company.”

The financing represents the second transaction that the Churchill platform has completed in support of GenNx360 Capital Partners, a leading New York, NY-based private equity firm that has managed over $1.1 billion in original capital commitments in the industrial and business services industries.

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